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Worldwide Smart Medical Devices Industry to 2027 - Featuring Abbott Laboratories, Apple and Enable Injections Among Others -

DUBLIN--(BUSINESS WIRE)--The "Smart Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to's offering.

The global smart medical devices market reached a value of US$ 36.92 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 58.58 Billion by 2027 exhibiting a CAGR of 7.50% during 2022-2027.

Companies Mentioned

  • Abbott Laboratories
  • Activinsights Ltd
  • Apple Inc.
  • Debiotech SA
  • Enable Injections
  • Fitbit LLC (Google LLC)
  • Koninklijke Philips N.V.
  • Medtronic PLC
  • NeuroMetrix Inc.
  • Omron Healthcare Co Ltd (Omron Corporation)
  • Sonova Holding AG
  • Sotera Wireless Inc.
  • VitalConnect

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Smart medical devices are wireless electronic instruments intended to monitor patients' health by collecting and communicating real-time updates. Insulin pumps, heart rate monitors, pulse oximeters, portable oxygen concentrators and blood pressure monitors are some of the commonly used smart medical devices. These devices are usually operated on a wireless network like wi-fi, Bluetooth, and various technologies and are widely used to monitor, analyze and transmit patient's critical data. Smart medical devices provide a high level of mobility, ability to monitor patient status remotely. They also assist in reducing workload, saving time, increasing patient engagement and control, reducing errors, improving communication, and enhancing safety. As a result, smart medical devices are widely used in hospitals, clinics and home care settings.

Significant growth in the healthcare industry across the globe is one of the key factors creating a positive outlook of the market. The increasing prevalence of chronic medical ailments, such as asthma, diabetes, blood pressure and chronic obstructive pulmonary disease (COPD), has facilitated the usage of these devices across various healthcare settings. Additionally, the widespread adoption of smart wearable medical devices due to the rising health consciousness among the masses is favoring the market growth.

Moreover, various technological advancements, such as the integration of artificial intelligence (AI), Internet of Things (IoT) and machine-to-machine technology, are providing a thrust to market growth. These technologies offer greater precision, ensure accurate storing and monitoring of patient information, and enhance the overall user experience.

In line with this, the increasing product demand in home care settings due to the sudden outbreak of coronavirus disease (COVID-19) for disease management, monitoring, providing feedback and suggesting adequate treatment is positively impacting the market growth. Other factors, including rising expenditure capacity of consumers, rising geriatric population, along with the implementation of various government initiatives to spread awareness about disease prevention, are anticipated to drive the market toward growth.

Key Questions Answered in This Report:

  • How has the global smart medical devices market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global smart medical devices market?
  • What are the key regional markets?
  • What is the breakup of the market based on the product type?
  • What is the breakup of the market based on the distribution channel?
  • What is the breakup of the market based on the application?
  • What is the breakup of the market based on the end user?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global smart medical devices market and who are the key players?
  • What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Smart Medical Devices Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Product Type

7 Market Breakup by Distribution Channel

8 Market Breakup by Application

9 Market Breakup by End User

10 Market Breakup by Region

11 SWOT Analysis

12 Value Chain Analysis

13 Porters Five Forces Analysis

14 Price Analysis

15 Competitive Landscape

15.1 Market Structure

15.2 Key Players

15.3 Profiles of Key Players

For more information about this report visit

Laura Wood, Senior Press Manager

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Editor Details

  • Company:
    • Businesswire
Last Updated: 07-Apr-2022